Wakefield Asset Management LLLP Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Wakefield Asset Management LLLP lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,301 shares of the Internet television network’s stock after selling 106 shares during the period. Netflix accounts for approximately 1.3% of Wakefield Asset Management LLLP’s portfolio, making the stock its 25th largest holding. Wakefield Asset Management LLLP’s holdings in Netflix were worth $3,578,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NFLX. Obermeyer Wood Investment Counsel Lllp lifted its stake in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the last quarter. Private Portfolio Partners LLC increased its holdings in shares of Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after buying an additional 17 shares during the period. FAS Wealth Partners Inc. lifted its stake in shares of Netflix by 1.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after acquiring an additional 17 shares during the last quarter. Legacy Capital Group California Inc. boosted its holdings in Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after acquiring an additional 18 shares during the period. Finally, Founders Financial Alliance LLC grew its position in Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold a total of 157,831 shares of company stock valued at $102,721,884 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Loop Capital boosted their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Bank of America increased their price target on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Oppenheimer restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research report on Tuesday, July 30th. Argus increased their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their price target on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $665.77 on Friday. The company has a 50 day moving average of $659.89 and a 200 day moving average of $633.82. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. The firm has a market cap of $286.95 billion, a P/E ratio of 46.20, a PEG ratio of 1.44 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the company posted $3.29 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.